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Maggi maker Nestle India's Chairman Suresh Narayanan said the company is planning to invest Rs 4,200 crore in order to boost local manufacturing by the year 2025.
According to the PTI report, The investment includes the establishment of Nestle India's 10th manufacturing plant in Odisha and will focus on scaling its production capacity as it has anticipated "fairly robust" demand in the Indian market in the coming years.
During a media roundtable, Mr Narayanan highlighted that significant investments, totalling Rs 2,100 crore, have already been made in capital investments until the first half of 2023. These investments focus on enhancing manufacturing capacity, with approximately one-third dedicated to food production, another one-third to chocolate and confectionery, and the remainder allocated to nutrition and other sectors.
The planned Rs 4,200 crore investment between 2023 and 2025 will include around Rs 900 crore for the new factory in Odisha. Narayanan said that Nestle India has a long-standing commitment to the country, having invested approximately Rs 7,000 crore over the last six decades.
The financial support for these expansion initiatives largely comes from Nestle SA, the Swiss parent company, which is providing technology, processes, and management capabilities for the new systems.
The investment would be used towards the development of the new factory in Odisha, expansion of facilities in the coffee and beverages business, and setting up confectionery lines alongside noodles in the Sanand (Gujarat) plant. Additionally, the Moga (Punjab) plant and the chocolate factory in Ponda (Goa) will also undergo expansion, Narayanan said.
Additionally, The company aims to increase the representation of female employees, with women currently constituting one-fifth of its field force and over 50 per cent of its board members. At the Sanand factory, more than half of the workforce comprises women, and the upcoming plant in Odisha is also expected to maintain a high level of gender diversity among its operators.
Nestle India presently operates nine factories in India, employing approximately 6,000 people. India ranks among the top ten global markets for Nestle SA, a Swiss multinational food and beverage conglomerate.
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